Wilmington NC Real Estate

Wilmington NC Area First Time Buyers~ Breaking NEWS!

The $8000 Tax Credit for  First Time * Home Buyers just got better! !
The U.S. Housing and Urban Development today announced that the Federal Housing Administration (FHA) will now allow home buyers to apply the $8,000 first-time * home buyer  tax credit toward the purchase price/closing costs of a FHA-insured home. Housing Secretary Donovan was very hopeful that this new rule action will help to stabilize housing markets by across the country by an increase if future home sales.

New Tax Credit Rules Can Help More Buyers

Originally the American Recovery and Reinvestment Act of 2009 offered First Time Home Buyers a tax credit/refund of up to $8,000.  The "old" guidelines allowed this credit to be received as a refund only after the Home Buyers filed tax returns with the IRS.  The FHA's new rules allowing state Housing Finance Agencies  and certain non-profits to "monetize" up to $8000 of the tax credit (which depends on the amount of the mortgage) so that borrowers can apply the funds toward their down payments.
 

Lower Monthly Payments Possible... Sound good?

First Time Home buyers * using FHA-approved lenders can apply the tax credit to their down payment in excess of 3.5 percent of appraised value or their closing costs, which can help achieve a lower interest rate.

 
Down Payment Requirements & Guidelines

Remember, Borrowers applying for an FHA-insured mortgage are still required to make a minimum 3.5 percent down payment on the purchase of their home. Current law does not permit approved lenders to monetize the tax credit to meet the required 3.5 percent minimum down payment, but, under the terms of today's announcement, lenders can now use the tax credit immediately as additional down payment, or for other closing costs, which can in effect create a lower interest rate & monthly payment.  In addition to the borrower's own cash investment, FHA allows parents, employers and other governmental entities to contribute towards the down payment.

 
Projected Home Sales Expected to Climb with New Tax Credit  

According to estimates by the National Association of Home Builders, the  home buyer tax credit will stimulate 160,000 home sales, 101,000 of which will be first-time buyers who will receive the credit. Another 59,000 existing sellers will be able to buy another home because a first-time buyer purchased their home.
 

Buyer Beware! Scammers are on the Prowl!

Potential buyers should beware that their are all kinds of mortgage scammers out there, ready to pounce on the unsuspecting. It is crucial to consult with seasoned, respected financial services provider.  The local Wilmington NC Area mortgage professionals that we recommend have the outstanding reputation, expertise, integrity & diligence, that every buyer deserves, and they are also FHA approved lenders.

 
Wilmington NC Homes for Sale

Are you ready to go shopping for your Wilmington NC area home with some Governments money?  There are some terrific buys out there! Sellers are eager, prices are down, interests rates, according to the experts will not be going lower, and free money will only be available for a few more months!  

Want to get moving??? Call us for more details & to see if you would like to team with us to help you achieve your goals!  We'd love to show you what your money can buy. You just might be very surprised!

 
*Remember: definition of first time home buyer is anyone who hasn't owned a home in the past 3 years!

Related Reading: Wilmington NC Home Buyers:: First Time Home Buyers Tax Credit May Help You!

© Ginger Sala, Keller Williams Realty Wilmington NC Real Estate & Relocation Specialist:  serves the beautiful Coastal North Carolina areas of Wilmington, Wrightsville Beach, Hampstead, Carolina Beach, Kure Beach, Topsail Island, Surf City & Leland. Wilmington NC Living truly has something for everyone!" Visit our website: CoastHomeNorthCarolina.com   for Wilmington NC Area Information, Wilmington NC Schools, Wilmington NC MLS listings!     Click here to contact Ginger 

                                              "Coast Home to North Carolina!"

Looking for an enjoyable "recession proof "way to spend a Sunday afternoon in the park? Come out Sunday for one our area's many free local  concerts! 

The Cape Fear Jazz Society  will present a terrific outdoor concert this weekend, sponsored by the Wrightsville Beach Department of Parks & Recreation at Wrightsville Beach Park! What a great opportunity to hear some of our awesome local Jazz groups while enjoying the Harbor Island breeze!

This years line-up kicks off with Grenoldo Frazier a Fats Waller style pianist and singer.  
Next up is the amazing Frank Bongiorno Trio, led by UNCW's renowned Jazz Studies professor on the Sax, Andy Whittington on piano and Doug Irving on bass.

Also on the bill, closing out the show will be The Port City All-Stars, led by El Jaye Johnson  on guitar and trumpet, Kevin Kolb on piano, Teddy Burgh on reeds, Tony Mallard on drums and Mike Hanson on percussion.

Refreshments will be available! Hot Dogs Ice Cream! Bring your chairs or blankets! and Picnics and Dogs are welcome!

When: 1-5 p.m. Sunday, May 17, 2009

Where: Wrightsville Beach Park, 321 Causeway Drive

Cost: FREE!

                                                                            Enjoy!

©Ginger Sala Wilmington NC Real Estate & Relocation Specialist serving the beautiful Coastal NC areas of Wilmington , Hampstead, Wrightsville Beach, Carolina & Kure Beach & Leland NC.

                                                                                   "Coast Home to North Carolina!"

Its a beautiful "summer like "spring day TGIF in Wilmington NC.  The Carolina Blue Skies and sunshine have ushered in a mini heat wave!  A great time for  to head out to the Mayfaire Town Center and catch another terrific FREE concert on the big lawn!

Tonight's performance promises some great American tunes performed by one of Wilmington's favorite bands Big Dog & Catfish Willie.  They are a terrific local cover band with awesome vocals!! Their style ranges from the classic jazzy sounds of Van Morrison to down home country & country rock.

Click the link and check out Big Dog's great cover version of "Into the Mystic!" (one of my all time favs) hang out a while on their site and get a sample their awesome sound with some great streaming mp3's.

Mayfaire Concerts bring out Local residents of all ages! Its a great time for all and a wonderful opportunity to catch up with or make new freinds! Bring lawn chairs, blanket, the kids, the pooches, and consumables of your choice. Dancing is definitely encouraged! Picniking is permitted, so bring your own, or pick up great takeout from the terrific selection of nearby Mayfaire restaurants 

The Mayfaire canvas goodie bags will be given away to the first 100 attendees on the first Friday of every month, filled with coupons, gifts and samples from the Mayfaire stores and restaurants.

Where: Mayfaire Town Center On the  lawn behind World Market and Ulta (One block north of the Mayfaire Cinema)
When:  6pm Every Friday May 1st -September 25, 2009 
Cost: FREE!!!

Hope to see you there!  ENJOY!

©Ginger Sala Wilmington NC Real Estate & Relocation Specialist serving the beautiful Coastal NC areas of Wilmington , Hampstead, Wrightsville Beach, Carolina & Kure Beach & Leland NC.

                                                                                   "Coast Home to North Carolina!

The say the best things in life are free and we are blessed here in Wilmington NC with an abundance of "Best Things", like the free outdoor concerts that are hosted every year by Wilmington's Mayfaire Town Center.

We are off to an early start this year as the Mayfaire Music On the Town Concert Series kicks off on Friday May 1st with the popular band Big Fish. The crowd should enjoy the mix of Rock & Roll and beach music also known locally as Carolina Shag! 

It's a picture perfect "Carolina Blue" spring day in Wilmington! Come out and enjoy the fun!  The Mayfaire Concerts are a great place to wind down or wind up...and meet new friends! Every time we go we meet new folks. Of course our beautiful shepherd/chow Bella loves a good concert ( and meeting up with the local pooches) and she is a people magnet for sure!

Mayfaire concerts are a great time for all ages! Bring lawn chairs, blanket, the kids, the dog, and consumables of your choice. Dancing is definitely encouraged! Picniking is permitted, so bring your own, or pick up great takeout from the terrific selection of nearby Mayfaire restaurants

The Mayfaire canvas goodie bags will be given away to the first 100 attendees on the first Friday of every month, filled with coupons, gifts and samples from the Mayfaire stores and restaurants.

Where: Mayfaire Town Center On the  lawn behind World Market and Ulta (One block north of the Mayfaire Cinema)
When:  6pm Every Friday May 1st -September 25, 2009 
Cost: FREE!!!

 ENJOY!

©Ginger Sala Wilmington NC Real Estate & Relocation Specialist serving the beautiful Coastal NC areas of Wilmington , Hampstead, Wrightsville Beach, Carolina & Kure Beach & Leland NC.

                                                              "Coast Home to North Carolina!

When we moved from New York into our North Carolina home in the month of December, I did not expect to be seeing fall foliage! I was so excited by the sight of this lovely tree in our back yard that was fully dressed to the nines in a spectacular display of vibrant golden & crimson tones!  "We have fall foliage!!!"  I excitedly called to me husband! Come see! ! Coming form the northeast we were so thrilled to see the colorful autumn leaves!

The Bradford Pear tree is a favorite accent tree in our North Carolina residential landscape planting. Its one of the first trees to set out buds and the last to loose it leaves in late December. It transitions from exquisite springtime blossoms to shiny green leaves, to a stunning display crimson & gold foliage lasting from fall into early winter.  Its an eye catching tree for sure! We are blessed to have a nice one in view of our back kitchen windows and deck!

Happy Spring!

©Ginger Sala Wilmington NC Real Estate & Relocation Specialist serving the beautiful Coastal NC areas of Wilmington , Hampstead, Wrightsville Beach, Carolina & Kure Beach & Leland NC.

                                                              "Coast Home to North Carolina!

  

                               Wilmington NC Moving on Up!

Wilmington NC is on the move...last year #38 this year #13 in overall rankings on Forbes List of Best US Cities for Business & Careers! Wilmington ranks even higher in the category of cost of doing business coming in at #3! right behind its NC neighbors Greensboro & Asheville!

This years criteria included 2 new categories for selection: projected job growth and the lowest number of subprime mortgages as a percentage of total mortgages over a three-year period.

In addition to Wilmington, our North Carolina cities to the west made strong showings on Forbes List. Raleigh came in at #1 with it's close neighbor Durham taking the 3rd spot. Asheville #6, Winston Salem #18 and Charlotte #19.

                     
                          Forbes Ranked 200 Metro Areas


Forbes rankings include 200 largest metro areas (populations over 240,000) as defined by the U.S. Office of Management and Budget and are based on nine factors which include:

    * five-year historical job &  income growth
    * projections of job & income growth
    * migration trends
    * business cost index
    * labor, tax,
    * energy costs
    * office space costs
    * cost of living index, which factors in housing, transportation, food and other household expenditures.

               

                                  More Positive News for Wilmington

Builder Online named Wilmington # 14 out of  75 housing markets studied in the country. The markets were ranked by population trends and job growth, the state of home prices & the rate building permits, which they say may be the single best ongoing indicator of builder confidence in a market. They combined all these metrics to produce a score for each market.

Read the complete article on Wilmington NC  by Builder Online Here
 

Wilmington NC: A great place to do business and a terrific place to call home! Thinking of relocating to our beautiful coastal area? We'd love to tell you all about Living in Wilmington, our wonderful new "hometown".

©Ginger Sala Wilmington NC Real Estate & Relocation Specialist serving the beautiful Coastal NC areas of Wilmington , Hampstead, Wrightsville Beach, Carolina & Kure Beach & Leland NC.

                                                              "Coast Home to North Carolina!"

Sports Lovers are you thinking of relocating to Wilmington NC? It's good to know that you won't have to leave your favorite spectator sports behind!

 Sports mania is alive and vibrant in the Wilmington NC area, and although the teams and the size of the crowds may be different, the enthusiasm and team spirit remain! Here's a guide to what you can expect as a Cape Fear Sports Spectator

                                                   Wilmington NC Spectator Sports

• BASKETBALL
  

The Wilmington Sea Dawgs of the ABA League has its home games in the Schwartz Center at Cape Fear Community College. Wilmingtonians are thrilled with the new addition of this pro team to the community! 

• BASEBALL

The Sharks Wilmington’s own semi-pro baseball team are in their season 12. Opening game is the May 28 this year. Games are played at the Legion Stadium Sports Center.

• SOCCER

Soccer is alive and well in Wilmington NC, our own pro league is in its 12^th year. The fan base grows every year. Wilmington Hammerheads soccer team games are fun for the whole family and feature crowd participation contest at all home games Hammerheads soccer team is a member of the United Soccer Leagues Second Division.

• COLLEGE SPORTS

UNCW Sports

UNCW Seahawks Men’s & Women’s Basketball rock! They are on a winning streak...Games at the Trask Coliseum. Read the latest on UNCW Mens Seahawk Basketball

Seahawks Baseball fans were thrilled with their recent winning seasons! Games at Brooks Field. The Seahawks Swim Team had a record year last year.

 UNCW has a full roster of Sports including Golf, Volleyball, Track & Field, Tennis. The Seahawks Swim Team had a phenomenal record year last year. Catch the action at UNCW.

CAPE FEAR COMMUNITY COLLEGE

CFCC Mens Basketball team is hot. For the 6th year in a row it is a contender in the Conference Playoffs. Womens Sports Teams at CFCC  include Golf, Volleyball, Soccer.  Men also compete in Soccer and Golf.

• WILMINGTON NC HIGH SCHOOL SPORTS

Our town has some awesome high school sports teams with raving fans. The Locals went wild this year when Wilmington's Hoggard High School Football Team won the NC State Football Championship!  read: MISSION ACCOMPLISHED - HOGGARD WINS STATE CHAMPIONSHIP!  

High School Basketball is a big draw here in Wilmington the home town of Michael Jordan who led his Laney High School the Alma Mater to many wins. Laney is still a formidable contender. The Laney Girls basketball team is competing in the Conference Championship for the 6th year in a row. Hoggard and New Hanover finished right behind the Lady Bucs in the regular season standings and will certainly be formidable foes.

The Wildcats New Hanover Boys Basketball team has won 13 Conference Championships and is entering this years conference play on-top was top.  Laney or Ashley High School are also competing in the first round play.

There is so much more going on in our local sports scene. Check out the Cape Fear Sports Report  for all the latest Local Sports News and Events

PLAY BALL!

by Ginger Sala, Broker, Realtor®, ASP  Wilmington NC Real Estate & Relocation Specialist  serving the beautiful Coastal NC areas of Wilmington , Hampstead, Wrightsville Beach, Carolina & Kure Beach & Leland NC. 

So many buyers think buying a foreclosed home is easy as pie, and always a win win. As with any Real Estate purchase, education & preparation is the key to success.  My good friend Bill Gasset, a top agent in Massachusetts has written a terrific synopsis of the foreclosure sale process.  As he mentions, states will differ in their Foreclosure sale procedures & in the legal particulars.  Our state, North Carolina is a deed of Trust State. Most foreclosures in NC are non- judicial, with a time frame of 3-4 months to closing. Courthouse foreclosures are much less common & allow for the owner in default to redeem  their property within 10 days. Contact us for more info on Wilmington North Carolina Foreclosures, REO Properties, and pre-foreclosures for sale!  Thanks Bill, for permission to republish this great post!

New Hanover County NC residents have a great opportunity to visit some of our Wilmington NC area's most popular attractions for Free this weekend as once again the Cultural Community of Wilmington NC gives back to its residents. For the 14thAnnual "Be A Tourist in Your Own Hometown" Residents' Appreciation Day will be celebrated this weekend on Sunday March 1, 2009

Unfortunately, the forecast could not be gloomier with rains expected for the entire day. I am wondering if the County will give us a RAIN check since so many of the area attractions are outdoors.

From Gardens to Battleships, from Museums to Mansions, there is surely something for all tastes,ages and interests to explore for free this Sunday in Wilmington NC

 Some of the Wilmington NC area attractions opening their doors to residents free of charge on Sunday include:

Airlie Gardens

Bellamy Mansion 

Battleship North Carolina 

Cape Fear Museum

Cameron Art Museum

Screen Gems Studio 

Wrightsville Beach Museum 

Full list of free attractions and hours are available at:  Cape Fear Coast 

ginger in NC

by Ginger Sala, Keller Williams, Broker, Realtor®, ASP  Wilmington NC Real Estate & Relocation Specialist  serving the beautiful Coastal NC areas of Wilmington , Hampstead, Wrightsville Beach, Carolina & Kure Beach & Leland NC. 

Photos copyright Ginger Sala and may not be used without express permission

Attention all Wilmington NC area first-time home buyers!!  Did  you know that you are eligible for a tax credit of $8,000 or 10% of the home's value, (whichever is less). This deduction can be taken  on a 2008 or 2009 tax return!

After much anticipation and congressional haggling, the final details of the Stimulus Package in regards to First Time Home Buyers has been signed, sealed and presented to the public.

Some exciting details of the plan provide that even taxpayers who have paid less than $8000 in withholding will benefit from this provision!  Depending on whether you owe taxes for the  year, or whether you are expecting a refund, the Tax credit will either be added to you refund, or subtracted from what is owed.

Questions on the First Time Home Buyer Credit:

Who Qualifies as a First Time Home Buyer?

• You may be surprised to learn that the definition of First Time Home Buyer includes anyone who has not owned a home in the past 3 years!

Are There Any Restrictions on the Home Buyers Credit?

YES!

• Income must not exceed $75,000 for singles and $150,000 for marrieds ( however these buyers may receive a partial credit)
• Buyers must occupy their purchased home for a 3 year minimum, otherwise the credit must be repaid.
• Purchase must be made between  January 1, 2009 and December 1st, 2009.

How do I claim the credit?

• It will be  claimed on your normal tax return on IRS form 5405 nothing else is required.
• Taxpayers who have already filed 2008 returns can file amended returns  to claim the credit.

Do I Have to Repay this Credit?

•  NO, unless you move out of your home before the 3 year occupancy requirement

According to the National Association of Realtors projections, the new Home Buyer Tax Credit  will enable 300,000 buyers to purchase a home. Although we were all hoping for the Senate $15,000 tax credit proposal to pass, we are grateful for any incentive to help potential buyers to enter the market.  Hopefully  the economic Domino Effect of these future home buyers will be work for those in related home services fields who may have lost their jobs otherwise

Useful sites for further info:

Information about the First Time Home Buyers Tax Credit

View IRS Publication 5405:  2008 First time Home buyers Tax Deduction

Wilmington NC is terrific place to live!  There are some great houses for sale in the  Wilmington NC, Hampstead NC & Leland NC area! Like beach living?.. I can help you find a terrific deal on a home or condos in Wrightsville Beach, Carolina Beach & Kure Beach!

by Ginger Sala, Keller Williams Realty Wilmington NC Real Estate & Relocation Specialist serving the beautiful coastal NC areas of Wilmington , Hampstead, Wrightsville Beach, Carolina & Kure Beach, & Leland NC. Coast Home to North Carolina!